Accordion feature for additional borrowings
Company: Applied Digital
The claim, verbatim
Accordion feature permitting up to an additional $75 million of borrowings subject to mutual agreement
Source (primary)
Applied Digital 8-K filed 2024-06-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Promissory Note includes an accordion feature that permits up to an additional $75 million of borrowings subject to the mutual agreement of CIM and the Borrower”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing describes an accordion permitting up to $75 million more, subject to mutual agreement of CIM and the Borrower.
Confirmed in the source:
- The CIM Promissory Note includes an accordion feature
- The accordion permits up to an additional $75 million of borrowings
- The additional borrowings are subject to mutual agreement of CIM and the Borrower
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000171/apld-20240617.htm) in full (4,930 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-06-17
Quote: “the Promissory Note includes an accordion feature that permits up to an additional $75 million of borrowings subject to the mutual agreement of CIM and the Borrower”